U.K. house prices rise at the fastest pace in three years

House prices in the United Kingdom grew at the fastest rate in a three-year period in the month of March mainly due to a notable increase of prices in London amid higher demand for properties, the Hometrack reported on Monday. Prices of houses in England and Wales improved by 0.3% in March from the month before, while in London prices were up 0.7% on a sequential basis in March.